在备考FRM中，对于FRM真题的练习是非常重要的，考生千万不能忽视。在备考中要做大量的真题，尤其是近几年的FRM真题。下面是对小编列举的例题，希望对你有所帮助！
Which of the following statements are associated with the construction of a synthetic option using dynamic replication?》》》点击领取2021年FRM备考资料大礼包（戳我免费领取）
I. Operational risks arc higher compared to static replication.
II. Transactions costs are higher compared to static replication.
III. Less capital is required, compared to an exchange traded option.
IV. Confidentiality is greater, compared to an exchange traded option.
A) I and II only.
B) I and III only.
C) I, II, and III.
D) I, II, and IV.
解析：Compared to static replication, operational risks are higher in dynamic replication because frequent trades are required to adjust the replicated position. This also incurs higher transactions costs. So, both Statements I and II are associated which dynamic replication.
Confidentiality is greater with dynamic replication, compared to an exchange traded option. So, Statement IV is associated with dynamic replication.
However, more capital is required when using dynamic replication, compared to an exchange traded option. Thus, Statement III is incorrect.
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